Prepare a single-step income statement (with respect to items in Income from operations). (Round earnings per share to 2 decimal places, e.g. 1.48.)

The following information was taken from the records of Sheridan Inc. for the year 2020: Income tax applicable to income from continuing operations $172,040; income tax applicable to loss on discontinued operations $23,460, and unrealized holding gain on available-for-sale securities (net of tax) $13,800. Gain on sale of equipment Loss on discontinued operations Administrative expenses Rent revenue Loss on write-down of inventory $87,400 69,000 220,800 36,800 55,200 Cash dividends declared $138,000 Retained earnings January 1, 2020 1,200,000 Cost of goods sold 782,000 Selling expenses 276,000 Sales Revenue 1,748,000 Shares outstanding during 2020 were 100,000. Income Statement For the Year Ended December 31, 2020 Revenues Sales Revenue Rent Revenue Total Revenues Expenses Cost of Goods Sold Selling Expenses Administrative Expenses Total Expenses Income From Continuing Operations Other Revenues and Gains Income Tax Discontinued Operations